Stock Is In Strong Uptrend & Now It’s Ready To Break Resistance
- The stock has been in a strong uptrend, forming higher highs and higher lows, confirming a bullish trend.
- A significant liquidity zone was created around INR 320 during the election results day, providing a solid support level.
- The stock is currently trading near the 0.5 Fibonacci retracement level at INR 422, which is a crucial resistance level.
- Breaking above this level with volume can lead to further upside, targeting the 0.618 Fibonacci level and higher.
- Recent price movements are supported by increasing volume, indicating strong buying interest.
- The volume spike on the breakout above the trendline signifies the strength of the upward movement.
- Immediate resistance is at INR 422, which aligns with the 0.5 Fibonacci retracement level.
- Support levels are at INR 380 and the trendline support at around INR 320.
- The RSI is currently above 50, indicating bullish momentum.
- The RSI needs to maintain above 50 to sustain the bullish trend.
- The latest quarterly earnings report showed a significant increase in revenue and profit margins, driven by higher demand and improved operational efficiencies.
- The company reported a revenue growth of 18% YoY and a net profit increase of 22% YoY.
- Supriya Lifescience recently announced the expansion of its manufacturing facilities, which is expected to increase production capacity by 30%.
- The company has secured several new contracts from major pharmaceutical companies, enhancing its revenue visibility.
- A significant liquidity zone was created around INR 320 during the election results day, providing a solid support level.
- The stock is currently trading near the 0.5 Fibonacci retracement level at INR 422, which is a crucial resistance level.
- Breaking above this level with volume can lead to further upside, targeting the 0.618 Fibonacci level and higher.
- Recent price movements are supported by increasing volume, indicating strong buying interest.
- The volume spike on the breakout above the trendline signifies the strength of the upward movement.
- Immediate resistance is at INR 422, which aligns with the 0.5 Fibonacci retracement level.
- Support levels are at INR 380 and the trendline support at around INR 320.
- The RSI is currently above 50, indicating bullish momentum.
- The RSI needs to maintain above 50 to sustain the bullish trend.
- The latest quarterly earnings report showed a significant increase in revenue and profit margins, driven by higher demand and improved operational efficiencies.
- The company reported a revenue growth of 18% YoY and a net profit increase of 22% YoY.
- Supriya Lifescience recently announced the expansion of its manufacturing facilities, which is expected to increase production capacity by 30%.
- The company has secured several new contracts from major pharmaceutical companies, enhancing its revenue visibility.
Note
8% up in just 2 days
Join our community in telegram for real time updates --- telegram.me/marketiik
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.